Geismar receives $780 million for chemical plant expansion
GEISMAR - BASF announced a final investment of $780 million to double production capacity at a manufacturing facility in Ascension Parish.
The investment marks the launch of the third and final phase of a BASF expansion plan that has been in progress since 2018. The expansion, according to a press release sent out by Louisiana Economic Development, has retained more than 1,000 jobs and created 37 new direct jobs.
Additionally, the project plan brought a total of 147 indirect jobs, resulting in 184 new jobs for the capital region, according to the press release.
By doubling the production capabilities of the Geismar plant, the Verbund site will be able to produce 600,000 metric tons of MDI, an important component for lightweight plastics.
"By increasing production of a material vital to the creation of energy-efficient products, BASF has positioned our state as an important contributor to the global sustainability supply chain," Governor John Bel Edwards said. "That is a win for workers and their families in the Capital Region, and for the state's economy as a whole."
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